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Tbh I truly feel the dislike of the merger by CNE shareholders might be due to lack of knowledge of tullow.
They instantly double their daily output (for only 6 months more hedged and even the true avarage price was 86 when poo was 100 and it has been higher since). and there is upside to much more. No field acquisition costs, no risks of drilling and no costs for infra structure.
Besides that there are many possible extras tullow can present in near future.
One could even argue that they get the better end of the deal
Joek, question is if we will be a new company after the merger will the hedging contracts still be binding? Probably will but not sure. (And 2023 is creeping up closer and closer anyway).
In any case good that CNE is unhedged like you say.
All seems very positive for lth
this is not the big RNS about kenya (that will come and it will be positive i expect) so relax. it is an AGM. And a good one at that. solid! i did like the part where it said " grow ...organically AND inorganically" .
gla
a bit leading this title. it states there is no partner yet and ' no deal in sight' but we all know but there are a lot of signs, and statements too, from tullow, that thing are progressing well. makes you wonder why they (??) chose such a title.